Cyprus HICP inflation rate down at 5.1% in August

The EU-harmonised inflation rate in Cyprus fell slightly to 5.1% over the same period of the previous year in August, from 5.3% in July, thanks to falling oil prices.
This performance was similar to the consumer price inflation rate reported last week, which showed the CPI rate falling to 5.4% from 5.6% in July.
However, the HICP rate was rather higher than average inflation in the eurozone, where the HICP for August was estimated by Eurostat last week at 3.8%.
For the period January-August 2008, the HICP recorded an increase of 4.7% compared to the corresponding period of 2007.
The highest increases were recorded in housing, water, electricity and gas, up by 11.4% and transport, up by 8.4%.